Lakshmi Vilas Bank, a private sector banking institution, has filed a draft letter of offer in connection with the proposed rights issue of equity shares of Rs 10 each by the bank, aggregating up to Rs 5.05 billion for cash.

It is in terms of Part E of Schedule VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended with the Securities and Exchange Board of India.

Shares of the bank gained Rs 3.25, or 4.91%, to trade at Rs 69.45. The total volume of shares traded was 27,077 at the BSE (9.36 a.m., Friday).